Defiance Leveraged Long + Income Pltr Etf

The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective through a combination of a Leveraged Strategy and an Income Generation Strategy. The leveraged Strategy aims to amplify returns by employing derivatives to achieve exposure to the share price of the common stock of Palantir Technologies Inc. (“PLTR” or the “Underlying Security”) at daily levels ranging from 150% to 200% of the fund’s net assets. It is non-diversified.